Doing well while doing good

In many ways, the recent recession inspired people to cast-aside “conspicuous consumption” in favor of products, services and purchasing practices that could be described as more authentic. I’ve written about this gravitation toward the purpose-driven purchase before (see the posting from 11/9/0).

As a follow-up, I’ll share two items that seem to be tapping-in to the consumer’s search for authenticity. In yesterday’s Springwise newsletter, there is a story about the “One Billion Minds” project, which rewards professors, students and alumni from various colleges a chance to win prizes for solving real-world problems. In a campaign that leverages the social networking realm, colleague Kim Peek recently brought up the Pepsi Refresh Project, which invites people to submit and describe community-improving projects, and then asks consumers to vote for the projects that deserve to be rewarded. The plan supports cash-strapped non-profits and experiential philanthropists, and sets the stage for some great viral marketing when project sponsors tap their social networks to generate “votes” for their project.

Implications: Can your business do well by doing good? What philanthropic practices are already under way in your company that consumers might like to know about and appreciate? Do you give employees paid time to volunteer in your community?

In their search for authenticity, consumers might find your charitable works more important than ever.

Mike Anderson